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Saudi Arabia’s Neft Alsharq Company for Chemical Industries has obtained 10 million riyals Shariah‑compliant banking facilities agreement from Al Rajhi Bank.
The funding, to be received over a year, will be used to finance working capital needs and capital expenditures.
The financing is backed by a promissory note as well as a guarantee and indemnity undertaking.
The company confirmed that no related parties are involved in the transaction.
(Writing by Brinda Darasha; editing by Daniel Luiz))
